PESHAWAR: Tribal Areas Chamber of Commerce and Industry (TACCI) president Shahidur Rehman has termed the Economic Revitalisation of Khyber Pakhtunkhwa and Fata (ERKF) project a blessing for the small and medium enterprises (SMEs) of the tribal areas, saying that the grant paid under it is non-refundable.

He was addressing a ceremony arranged for the distribution of grant cheques worth Rs41 million among 54 terrorism-affected entrepreneurs of Fata at the tribal areas chamber here on Friday. He said that the traders and Smeda would cooperate with each others for facilitation of the SMEs to boost local economy.

A large number of the representatives of SMEs from Fata were present on the occasion besides Small and Medium Enterprises Development Authority (Smeda) Khyber Pakhtunkhwa chief Javed Iqbal Khattak and Fata Investment Facilitation Authority secretary Abid Wazir.

The TACCI chief lauded the services of Smeda in promotion of business activities in Fata and Khyber Pakhtunkhwa. He said that the fund was provided by donors and offered full cooperation to Smeda in implementation of the ERKF project.

Mr Khattak said that the objective was aimed at bringing improvement in the socio-economic conditions of the people. He said that the purpose of Smeda was not the payment of compensation to businesses, but motivation and the provision of facilitation in resolution of hurdles hampering business activities.

He said that the authority was ready for extending any cooperation in matters related to facilitation, bank finances and preparation of feasibility studies for SMEs.

The Smeda’s provincial chief stressed on utilisation of the grant for real objectives. He said that the purpose of ERKF was not only revival of the terrorism- and flood-affected SMEs, but also the restoration of employment of the related persons.

Published in Dawn, October 25th , 2014